
How Colorado Buffaloes football did financially in FY2024
BOULDER, Colo. (BVM) – The University of Colorado Boulder athletic department has released its annual financial report for fiscal year 2024.
The 80-page document, which was submitted to the NCAA by Jan. 15, was obtained by BVM Sports through open records. It highlights revenue, expenses and profits for the Colorado Buffaloes football program.
FY2024 covers the reporting period from July 1, 2023 to June 30, 2024. It reflects the first football season under head coach Deion Sanders.
Revenue: The Colorado athletic department generated $146.6 million in total operating revenue in FY2024, marking a $19.5 million increase from the previous year.
Coach Sanders helped boost football revenue by $14.6 million in his first full year. Football brought in $64.7 million in FY2024, accounting for 44% of the school’s athletic revenue.
Ticket sales: The “Prime Effect” was evident in the staggering rise of ticket revenue; football’s ticket sales soared from $13 million to $31.2 million in coach Sanders’ first season. The program accounted for 89% of the university’s total ticket sales across all sports.
Other game day revenue: Football’s game days are becoming increasingly lucrative. The program reported a $1.4 million increase in revenue from game programs, novelties, parking and concessions – bringing the total to $2.9 million.
Donations: The generosity of donors helps Colorado athletics stay competitive. Contributions provided and used by football increased by 20% to total $7.2 million in FY2024.
Expenses: The Colorado athletic department’s total operating expenses reached $138.3 million in FY2024 (a 1.6% increase from FY2023).
Football’s spending increase under coach Sanders was smaller than many might expect. The program increased expenses by $3.5 million under Sanders, bringing its total operating cost to $38.5 million. The next highest expenditure came from men’s basketball at $9 million.
Team travel: This category considers meals, lodging, air and ground travel. Football spent $2.1 million, while men’s basketball spent $1.1 million.
Game expenses: Sold-out games led to higher expenditures for game day operations, which included more officials, security and event staff. Football boosted spending by 62% in this category for coach Sanders’ first season – bringing the total to $3.7 million.
Recruiting: Though uncommon in college sports, Colorado athletics didn’t significantly raise its recruiting spending from FY2023 to FY2024. The university spent $1.6 million on recruiting in FY2024, with $943,504 of that going to football.
Severance payments: Colorado’s FY2024 report recognized $5.9 million in severance payments and applicable benefits made to past coaching and administrative personnel (just for football).
Salaries: Sanders, who is among the top 40 highest-paid head college football coaches in the nation, earned $7 million in salary, benefits and bonuses in FY2024.
Profits: CU athletics reported a profit of $8.2 million for FY2024. This marks the first time in years that the department hasn’t ended the fiscal year with a deficit.
Football’s profits nearly doubled to $26.1 million in FY2024. CU’s only profitable program was men’s basketball ($392,095).
Overall, it’s clear that coach Sanders made a positive financial impact during his first football season at Colorado. The university’s next NCAA financial report (FY2025) is set to be released in January 2026.